Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast, All Things Investigation. In this podcast, host Tom Fox is joined by Jeremy Paner and Diego Durán de la Vega to discuss the designation of cartels and other actors in Mexico as foreign terrorist organizations and what this means for US businesses.
This episode considers the significant compliance regulation changes affecting US domestic and Mexican companies. The focal point is the recent designation of cartels and their members as Foreign Terrorist Organizations (FTO) and/or Specially Designated Global Terrorists (SDGT). Unlike in the past, where counter-narcotics sanctions had a limited impact on day-to-day business operations, these new rules introduced a different risk landscape. The spotlight is not simply on the widely-publicized foreign terrorist organizations but rather on the lesser-known yet impactful, specially designated global terrorist (SDGT) actions. These SDGT designations empower the US Treasury’s terrorist finance tracking program, effectively increasing surveillance on Mexican payments, thus posing new challenges and risks for domestic companies.
Key highlights:

Introduction to New Rules Impacting US Companies

Impact on Domestic Mexican Companies

Terrorism Designations and Their Implications

Treasury’s Terrorist Finance Tracking Program

Resources:
Jeremy Paner
Diego Durán de la Vega
Hughes Hubbard & Reed website
Designation of Criminal Cartels as Foreign Terrorist Organizations Increases Compliance Risks for Companies (US or Not) Operating in Mexico and Greater Latin America

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